Energy Department announces $289.7 million loan guarantee for widespread VPPs
Summary
The company has partnered with another Massachusetts company, SYSO Technologies, to provide its distributed energy management software platform, which will allow the project to function as a virtual power plant (VPP).VPPs are an aggregation of small-scale distributed energy resources including solar energy systems, electric vehicles (EVs), EV chargers and demand response devices such as water heaters, thermostats, appliances and more.Now is the moment to scale virtual power plants to meet the pressing needs that we have in this country, said Mark Dyson, managing director of Rocky Mountain Institute (RMI) in a presentation during pv magazine USA Week. He stated that one of those pressing needs is the incredible electricity demand growth the nation is experiencing for the first time in 15 years.Project Polo includes both behind-the-meter distributed energy resources and community solar projects, primarily targeting commercial and industrial properties. One challenge to aggregating resources across many states each independent system operator (ISO) has its own requirements for solar and storage as far as compliance and market participation. SYSO reports that it has deep regulatory knowledge and customized strategies to help navigate the complexities from state to state.LPO borrowers are required to develop and implement a comprehensive Community Benefits Plan (CBP). In addition, and in line with the Justice40 initiative, the company has historically deployed about 40% of its systems to benefit disadvantaged communities.